This Is How Much Other Parents Spend on Allowance (Spoiler Alert: It's a Lot)


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How much should kids get for allowance? The answer mostly depends on who you ask. When we were kids, $2 a week seemed like hitting the jackpot. But a recent survey by Finder.com proves most parents are shelling out way more than that. Last year, American parents spent over $41 billion -- yes, billion -- on kids' allowance. And that's not even the most surprising part.

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According to the Finder.com survey, we're spending billions of dollars in allowance each year, even though only one in two parents actually gives an allowance to their kids. How is that possible, you ask? Well, because the parents who do give their kids an allowance are actually paying a lot.

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The average parent gives their kid $17 per week. Kids 10 and under receive an average allowance of $13 weekly, while kids ages 11 to 21 get an average of $17 weekly. Yes, some parents apparently still give an allowance to "kids" who are old enough to drink and vote. 

Unsurprisingly, parents of only children reported paying more money -- about $19 per week -- while kids with siblings are likely to get $16 weekly. But still, that's between $64 and $76 per month. Where was that when we were kids?

On the bright side, the survey at least found that most parents aren't giving away the goods for free. Of the 2,000 parents surveyed, more than 86 percent said they make their kids do household chores to earn money. As Finder.com notes, "Many parents take pride in guiding their kids toward financial responsibility through an allowance, helping them to talk about and better manage money. Others also use it as a tool to simply get their kids to do chores around the house."

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Still, these numbers might leave you feeling like you can't keep up with the Joneses. If that's the case, never fear. Lots of parents feel like they can't compete with these numbers. As one mom wrote of the findings on Facebook, "My 9-year-old has to do chores for no pay (to be a helpful family member), but she gets 50 cents a day for doing them without being asked and with a good attitude ... Guess I am cheap!"

At the end of the day, allowance is one of those personal parenting decisions we all have to make. And if you can afford to pay your kids almost $900 a year? Rock on with your bad self.

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